Wells Fargo & Company (NYSE:WFC) Given Consensus Rating of “Moderate Buy” by Brokerages

Wells Fargo & Company (NYSE:WFC) has received an average rating of “Moderate Buy” from the nineteen brokerages that are currently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $74.97.

A number of analysts have commented on the company. Citigroup reduced their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday. Barclays raised their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Truist Financial boosted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Thursday, March 13th. Finally, UBS Group upped their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th.

Wells Fargo & Company Trading Down 1.6 %

Shares of WFC stock opened at $72.33 on Friday. The firm has a market capitalization of $236.17 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The firm’s fifty day simple moving average is $75.97 and its 200 day simple moving average is $69.80. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The business’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is presently 29.74%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Rialto Wealth Management LLC bought a new stake in Wells Fargo & Company during the 4th quarter worth about $26,000. Investment Counsel Co. of Nevada acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $28,000. BNP Paribas bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. increased its holdings in shares of Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. Finally, Modus Advisors LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth $30,000. 75.90% of the stock is owned by institutional investors.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.